• XRP trades near $2.43 amid selling pressure and fading short-term momentum.
• Price remains between major levels of $1.96 and $3.30, signaling a reaccumulation phase.
• A rebound from $2.30 could spark recovery, while failure may lead to a drop toward $1.80.

XRP’s recent price movement indicates that the asset is caught between main levels of historical significance, creating a reaccumulation phase that could determine its next big move. According to expert EtherNasyonal, the pattern is seen for the first time during the 2017 rally.

The 2017 high at $3.30 is now a major resistance, and the 2021 high around $1.96 is an important support. This price area, commonly referred to as a reversal zone, draws long-term investors who expect a probable breakout once the pattern completes.

Currently, XRP is trading at $2.43, lower by almost 3% in the past 24 hours and 16% in a week. Market information indicates that bears are taking back the reins after the bulls were unable to sustain momentum above the $2.65–$2.70 resistance zone.

Also Read: Crypto Bubbles Burst While XRP Tundra Stays Frozen Solid

Technical Indicators Reveal Weakening Momentum

The XRP/USD weekly chart reveals a narrowing pattern whereby price action has become more articulated.

Momentum metrics signal weak weakness in XRP’s trend. The Relative Strength Index has declined to 45.75, falling below the middle of the road 50 marker, an indication that sellers are increasingly dominating buyers.

The MACD indicates a bearish crossover as the signal line crosses over the MACD line, while its histogram becomes more negative in value, validating diminished buying power.

Bollinger Bands are widening, hinting at increasing volatility in the days ahead. The upper band is positioned near $3.55, while the lower band sits close to $1.96, marking the current range of possible price swings.

The 20-week EMA at $2.72 now acts as a ceiling after a breakdown, whereas the 50-week EMA at $2.32 offers short-term support. Should XRP fall below this zone, traders may look to the 100-week EMA at $1.80 as the next potential floor.

XRP’s Midterm Outlook Hinges on $2.30 Support

In spite of the recent retreat, XRP’s broader technical setup remains bullish in the midterm provided that the price holds above $2.30. A strong bounce from here may unlock the way back up toward $2.70 and maybe $3.00. 

Yet a clear break below the $2.30–$2.00 area may trigger deeper losses, sending the token toward $1.80. Essentially, XRP’s present quietude could be followed by a bigger move. 

Market sentiment is subdued, and the next couple of weeks will probably decide if the asset continues its uptrend or falls into an extended consolidation period.

Also Read: XRP Struggles as Price Falls: Analysts Predict Potential Crash to $2.14